BAM showed its Performance in 2013 with 16,605 Million baht Cash Collection

           BAM revealed its 2014’s strategies, with four main plans to enhance the organization’s development sustainably. BAM is very satisfied with its 16,605 million baht cash collection in excess of the 13,735 million baht target. The profit was 3,984 million baht which was 22.17% increase from 2012. In 2013, BAM bought and received NPLs and NPAs worth of 20,111.34 million baht from financial institutions and this year BAM has a target of buying 21,500 million baht more of NPLs and NPAs.

           BAM President Mr.Krit Sesavej revealed that in 2013 BAM had cash collection from managing NPLs and from selling assets of 16,605 million baht which was 121% of the 13,735-million-baht target. The net profit was 3,984 million baht while the asset size of NPLs and NPAs have increased by 20,111.34 million baht. At the moment, BAM has 65,617 NPLs worth 396,736 million baht and 11,603 NPAs worth 36,634 million baht.

           The president estimated that BAM will have continuous growth this year. He estimated the cash collection would be 17,078 million baht, 10% higher than 2013, while BAM planned to increase the asset size of NPLs and NPAs by 21,500 million baht. BAM aims to bid for more assets from financial institutions and the Legal Execution Department.

           In 2014, BAM has the strategies to drive the organization forward sustainably by aiming at changing NPLs and NPAs into cash as soon as possible. BAM has four main strategic plans, including expanding the asset size, increasing profit growth, maintaining financial liquidity and developing the infrastructure and human resources to increase the effectiveness.

           NPA management will aim at selling the assets that BAM has to hold longer than five years. BAM put low-liquidity assets into groups and categorized the obstacles in selling those assets. BAM also focuses on the renovation process of assets for sale to ensure the quality meets the customers’ needs.

           Regarding the marketing plan in 2014, BAM will focus on selling properties for sale by joining the property events all year round. For example, House Condo Show on 13-16 March, NPA Grand Sale on 21-24 August and BAM People’s Condominium Expo in May. In BAM People’s Condominium Expo, BAM will bring out almost 3,000 condominium units cheaper than 1 million baht targeting at people with low incomes. Moreover, there will be two asset auctions this year. The first auction will be organized in March and the second one will be in September. Five City Corners Property Expo will be on 18-25 June in five different department stores in Bangkok. BAM will also have booths in department stores and super stores in other provinces around the country more than 100 times this year. BAM will have special promotions for BAM’s customers around the year, such as gift vouchers, transfer fee waived in cases of buying assets cheaper than 2 million baht. BAM also has the Pay by Installment with BAM campaign which allows the customers who do not have access to bank loan to buy residential properties with BAM. This is for assets cheaper than 2 million baht. BAM is confident that investors who want to invest in properties will push up BAM’s sale despite the current political situation.